Trial BalancePost-Adjustment Trial BalanceDecember 31, 2013AccountDescriptionDebitCredit1100Cash - Operating Account147,109.831110Cash - Payroll10.001130Petty Cash0.01200Accounts Receivable133,000.001205Allowance for Doubtful Accounts2,660.001230Interest Receivable0.01240Notes Receivable73,093.351300Inventory91,000.001410Prepaid Insurance16,500.001500Fixed Assets - Furniture & Fixtures273,500.001505Accumulated Depreciation-Fixed Assets37,787.502100Accounts Payable40,900.002150Federal Withholding Payable0.02160FICA Payable0.02165Medicare payable0.02170FUTA Payable0.02180TX state SUTA payable0.02190Interest Payable7,800.002200Federal Income Tax Payable0.02220Current N/P to banks43,660.192700Notes Payable to Banks90,278.262710Other Liabilities65,000.003100Common Stock5,000.003120Additional Paid-In Capital-Common Stock495,000.003200Retained Earnings59,340.084100Sales565,000.004180Sales Discount720.004190Sales Returns3,000.004500Cost of Goods Sold338,760.004700Shrinkage and Waste3,000.004800Freight and Handling5,000.005100Accounting Fees17,000.005200Advertising Expense4,500.005300Bad Debts Expense660.005400Bank Fees360.005600Depreciation Expense22,287.505700Dues & Subscription500.005800Employee Benefits1,500.005900Insurance0.06000Legal Fees9,000.006100Life Insurance - Administration0.06250Postage0.06300Rent Expense27,000.006400Repairs & Maintenance Expense1,545.006500Salaries and Wages206,400.006600Supplies0.06700Telephone & Utilities5,655.008000Taxes - Federal Income0.08100Taxes - FUTA Expense168.008200Taxes - FICA Expense12,796.808250Taxes - Medicare Expense2,992.808400Taxes - SUTA Expense1,026.009000Interest Expense13,216.759100Interest Income375.009200Miscellaneous Income/Expense1,500.001,412,801.031,412,801.030.0

&CChris Gillet&L&F&C&A

General Ledger - StudentsGeneral LedgerAccount 1100Cash - Operating AccountRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1372,107.33372,107.331230CD367,529.154,578.181230CR142,561.65147,139.831231December Bank feesGJ330.00147,109.83Account 1110Cash - PayrollRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ110.0010.001230PR13,779.2013,769.201230CD13,779.2010.00Account 1130Account not used0.0Account 1200Accounts ReceivableRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1137,000.00137,000.001230SJ137,000.00274,000.001230CR141,000.00133,000.00Account 1205Allowance for Doubtful AccountsRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ12,000.002,000.001231Correct Balance to 2% of A/RGJ3660.002,660.00Account 1230Interest ReceivableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 1240Notes ReceivableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00121CD75,000.0075,000.001231CR2,281.6572,718.351231Correct Note Receivable BalanceGJ3375.0073,093.35Account 1300InventoryRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ137,000.0037,000.001230SJ78,000.0041,000.001230PJ135,000.0094,000.001231Shrinkage and WasteGJ33,000.0091,000.00Account 1410Prepaid InsuranceRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001230CD18,000.0018,000.001231December Insurance UsedGJ31,500.0016,500.00Account 1500Fixed Assets - Furniture and FixturesRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1265,500.00265,500.00122Fixed Asset - Vendor 20PJ8,000.00273,500.00Account 1505Accumulated Depreciation Fixed AssetsRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ115,500.0015,500.001230GJ222,287.5037,787.50Account 2100Accounts PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1110,000.00110,000.001230PR375.00110,375.001230PJ173,900.00284,275.001230CD245,375.0038,900.001231Advertise Bill Payable CorrectionGJ32,000.0040,900.00Account 2140ACCOUNT NOT ACTIVEAccount 2150Federal Withholding PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001230PR1,730.001,730.001230CD1,730.000.00Account 2160FICA PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001230PR1,066.401,066.401230CD1,066.400.00Account 2165Medicare PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001230PR249.40249.401230CD249.400.00Account 2170FUTA PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 2180TX State SUTA PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 2190Interest PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001231Interest Payable on Line of CreditGJ37,800.007,800.00Account 2200Federal Income Tax PayableRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 2210ACCOUNT NOT IN USEAccount 2220Current NP to BanksRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ143,660.1943,660.19Account 2700Notes Payable to BanksRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ193,516.5193,516.511230CD3,238.2590,278.26Account 2710Other LiabilitiesRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ165,000.0065,000.00Account 3100Common StockRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ15,000.005,000.00Account 3120Additional Paid-In Capital - CSRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1495,000.00495,000.00Account 3200Retained EarningsRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ159,340.0859,340.08Account 4100SalesRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1425,000.00425,000.001230SJ140,000.00565,000.00Account 4180Sales DiscountRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward1230CR720.00720.00Account 4190Sales ReturnsRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward1230SJ3,000.003,000.00Account 4500Cost of Goods SoldRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1260,760.00260,760.001230SJ78,000.00338,760.00Account 4700Shrinkage and WasteRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward1231Shrinkage and WasteGJ33,000.003,000.00Account 4800Freight and HandlingRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001230CD5,000.005,000.00Account 5100Accounting FeesRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001231PJ8,000.008,000.001231PJ17,000.0025,000.001231Correct Accounting Fees BalancePJ8,000.0017,000.00Account 5200Advertising ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001230PJ2,500.002,500.001231Advertising Expense CorrectionGJ32,000.004,500.00Account 5300Bad Debts ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001231Exp for correcting Allowance BalGJ3660.00660.00Account 5400Bank FeesRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001231Bank Fees - Jan-NovGJ3330.00330.001231December Bank FeesGJ330.00360.00Account 5600Depreciation ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1330.00330.001230PR17,200.0017,530.001230GJ222,287.5039,817.501231Correct Bank FeesGJ3330.0039,487.501231Correct Salaries & Wages BalanceGJ317,200.0022,287.50Account 5700Dues & SubscriptionRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001215PJ500.00500.00Account 5800Employee BenefitsRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ11,375.001,375.001230CD125.001,500.00Account 5900InsuranceRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 6000Legal FeesRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001230PJ9,000.009,000.00Account 6100Life Insurance - AdministrationRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 6250PostageRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 6300Rent ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ124,750.0024,750.001230CD2,250.0027,000.00Account 6400Repairs & Maintenance ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001215PJ1,545.001,545.00Account 6500Salaries and WagesRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1189,200.00189,200.001231December Salaries and WagesGJ317,200.00206,400.00Account 6600SuppliesRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 6700Telephone & UtilitiesRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ15,300.005,300.001215PJ355.005,655.00Account 8000Taxes - Federal IncomeRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.00Account 8100Taxes - FUTA ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ1168.00168.001230CD1,066.401,234.401231Reverse Incorrect FICA EntryGJ31,066.40168.00Account 8200Taxes - FICA ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ111,730.4011,730.401231FICA Espense - DecemberGJ31,066.4012,796.80Account 8250Taxes - Medicare ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ12,743.402,743.401230CD249.402,992.80Account 8300Account Not in UseAccount 8400Taxes - SUTA ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ11,026.001,026.00Account 9000Interest ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance ForwardGJ15,016.655,016.651230CD400.105,416.751231Interest Expense on Credit LineGJ37,800.0013,216.75Account 9100Interest IncomeRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001231Interest Revenue on N/RGJ3375.00375.00Account 9200Miscellaneous Income/ExpenseRefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.001231December Insurance ExpenseGJ31,500.001,500.00

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Subsidiary Ledger-ARAccount Receivable Subsidiary LedgerAccounts Receivable Account 1200C 10Customer 10Credit Terms: 2/10, Net 30Credit Limit: $25,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward (from November)20,000.001210CR20,000.000.01220Inv 1204SJ8,000.008,000.00C 20Customer 20Credit Terms: 2/10, Net 30Credit Limit: $50,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward (from October)45,000.001215CR25,000.0020,000.001228Inv 1205SJ24,000.0044,000.001230CM 01SJ3,000.0041,000.00C 30Customer 30Credit Terms: 2/10, Net 30Credit Limit: $75,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward (from November)60,000.00123CR60,000.000.0125Inv 1202SJ48,000.0048,000.00C40Customer 40Credit Terms: 3/10, Net 30Credit Limit: $45,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward (from November)12,000.00122Inv 1201SJ24,000.0036,000.00125Open BalanceCR36,000.000.01210Inv 1203SJ36,000.0036,000.00

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Subsidiary Ledger-InventoryInventory Subsidiary LedgerInventory Account 1300I 10Item 10Preferred Vendor: Vendor 30Current Cost: $1,000Retail Sales Price: $2,000 (Price Increase from $1,500)QuantityStock ItemRefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward5,000.005.00123PJ10,000.0015,000.0010.0015.001220SJ4,000.0011,000.004.0011.00I 20Item 20Preferred Vendor: Vendor 30Current Cost: $1,500Retail Sales Price: $3,000 (Price Increase from $2,000)QuantityStock ItemRefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward6,000.004.00123PJ15,000.0021,000.0010.0014.001210SJ18,000.003,000.0012.002.001231Shrinkage and WasteGJ33,000.000.02.000.0I 30Item 30Preferred Vendor: Vendor 30Current Cost: $2,000Retail Sales Price: $4,000 (Price Increase from $3,000)QuantityStock ItemRefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward14,000.007.00123PJ10,000.0024,000.005.0012.001228SJ12,000.0012,000.006.006.00122Sales of 6 itemsSJ12,000.000.06.000.0I 40Item 40Preferred Vendor: Vendor 30Current Cost: $4,000Retail Sales Price: $6,000 (Price Increase from $5,000)QuantityStock ItemRefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward12,000.003.00123PJ40,000.0052,000.0010.0013.00125SJ32,000.0020,000.008.005.00126PJ60,000.0080,000.0015.0020.00

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Subsidiary Ledger-Fixed AssetsFixed Asset Subsidiary LedgerFixed Assets - Furnitures and Fixtures Account 1500Item 10F10Purchase Date:March 1, 2012Depreciation Method:Straight LineAnnual Depreciation$18,000.00Disposal Date:n/aSalvage Value:$20,000.00Useful Life10 YearsAccumulated DepreciationVendor:Vendor 20RefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward200,000.0015,000.0015,000.001230GJ18,000.0033,000.00Item 20F20Purchase Date:November 2, 2012Depreciation Method:Straight LineAnnual Depreciation$3,000.00Disposal Date:n/aSalvage Value:$500.00Useful Life5 YearsAccumulated DepreciationVendor:Vendor 20RefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward15,500.00500.00500.001230GJ3,000.003,500.00Item 30F30Purchase Date:October 1, 2013Depreciation Method:Straight LineAnnual Depreciation4,500.00Disposal Date:n/aSalvage Value:5000Useful Life10 YearsAccumulated DepreciationVendor:Vendor 20RefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward50,000.001230GJ1,125.001,125.00Item 40F40Purchase Date:December 2, 2013Depreciation Method:Straight LineAnnual Depreciation1,950.00Disposal Date:n/aSalvage Value:200Useful Life4 YearsAccumulated DepreciationVendor:Vendor 20RefDebitCreditDebit BalanceCredit BalanceDebitCreditDebit BalanceCredit BalanceDec1Balance Forward1230PJ8,000.008,000.001230GJ162.50162.50

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Subsidiary Ledger-APAccount Payable Subsidiary LedgerAccounts Payable Account 2100V10Vendor 10Credit Terms: Net 30 daysMedical Insurance VendorCredit Limit: $5,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.01230PR375.00375.001230CD375.000.0V20Vendor 20Credit Terms: 2/10, Net 30Fixed Asset VendorCredit Limit: $150,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward122PJ8,000.008,000.00V30Vendor 30Credit Terms: 2/10, Net 30Inventory VendorCredit Limit: $150,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward110,000.00121CD110,000.000.0123PJ75,000.0075,000.00126PJ60,000.00135,000.001215CD135,000.000.0V40Vendor 40Credit Terms: 2/10, Net 30General Supplies & Misc. VendorsCredit Limit: $75,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.01215Repair Bill V 810PJ1,545.001,545.001215Dues V 907PJ500.002,045.001230Advertising Bill VA01PJ2,500.004,545.001231Advertising Bill VA01 CorrectionGJ32,000.006,545.00V50Vendor 50Credit Terms: Net 30Accounting VendorCredit Limit: $75,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.01230Accounting Bill V 222PJ17,000.0017,000.00V60Vendor 60Credit Terms: Net 30Legal VendorCredit Limit: $75,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.01230Legal Bill V723PJ9,000.009,000.00V70Vendor 70Credit Terms: Net 30Telephone and Utilities VendorCredit Limit: $75,000RefDebitCreditDebit BalanceCredit BalanceDec1Balance Forward0.01215Utilities Bill V654PJ355.00355.00

&L&F; &A&CPage &P of &N

Subsidiary Ledger - Wages&SalSalaries and Wages Subsidiary LedgerSalaries and Wages Account 6500Salaried: $3,200 per month; Firm pays 25% of medical insuranceP10W-4 Filed, Married, 0$236.00 / period0.0620.0145$105/periodEmployee 10RefGrossFederal W/HSocial SecurityMedicareMedical InsuranceNet PayCheck #Dec1Balance ForwardPR35,200.002,596.002,182.40510.401,155.0028,756.201230PR3,200.00236.00198.4046.40105.002,614.2010452013 Total38,400.002,832.002,380.80556.801,260.0031,370.40Zero Balance Check:38400-2832-2380.8-556.8-1260-31370.40Salaried: $3,500 per month; Firm pays 25% of medical insuranceP20W-4 Filed, Married, 2$217.00 / period0.0620.0145$105Employee 20RefGrossFederal W/HSocial SecurityMedicareMedical InsuranceNet PayCheck #Dec1Balance ForwardPR38,500.002,387.002,387.00558.251,155.0032,012.751230PR3,500.00217.00217.0050.75105.002,910.2510462013 Total42,000.002,604.002,604.00609.001,260.0034,923.00Zero Balance Check:+42000-2604-2604-609-1260-34923Salaried: $5,000 per month; Firm pays 25% of medical insuranceP30W-4 Filed, Single 0$851.00 / period0.0620.0145$60Employee 30RefGrossFederal W/HSocial SecurityMedicareMedical InsuranceNet PayCheck #Dec1Balance ForwardPR55,000.009,361.003,410.00797.50660.0040,771.501230PR5,000.00851.00310.0072.5060.003,706.5010472013 Total60,000.0010,212.003,720.00870.00720.0044,478.00Zero Balance Check:60000-10212-3720-870-720-44478Salaried: $5,500 per month; Firm pays 25% of medical insuranceP40W-4 Filed, Married 4$426.00 / period0.0620.0145$105Employee 40RefGrossFederal W/HSocial SecurityMedicareMedical InsuranceNet PayCheck #Dec1Balance ForwardPR60,500.004,686.003,751.00877.251,155.0050,030.751230PR5,500.00426.00341.0079.75105.004,548.2510482013 Total66,000.005,112.004,092.00957.001,260.0054,579.00Zero Balance Check:66000-5122-4092-957-1260-54579

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General JournalGeneral JournalDateGL Acct#ExplanationPostedRefDebitCreditGJ11100Cash - Operating Account372,107.331110Cash - Payroll10.001200Accounts Receivable137,000.001205Allowance for Doubtful Accounts2,000.001300Inventory37,000.001500Fixed Assets - Furniture and Fixtures265,500.001505Accumulated Depreciation-Fixed Assets15,500.002100Accounts Payable110,000.002220Current N/P to banks43,660.192700Notes Payable to Banks93,516.512710Other Liabilities65,000.003100Common Stock5,000.003120Additional Paid-In Capital-Common Stock495,000.003200Retained Earnings59,340.084100Sales425,000.004500Cost of Goods Sold260,760.005600Bank Fees330.005800Employee Benefits1,375.006300Rent Expense24,750.006500Salaries and Wages189,200.006700Telephone & Utilities5,300.008100Taxes - FUTA Expense168.008200Taxes - FICA Expense11,730.408250Taxes - Medicare Expense2,743.408400Taxes - SUTA Expense1,026.009000Interest Expense5,016.65109,5201,314,016.781,314,016.78To input beginning balances. Input by GL ClerkGJ212305600Depreciation Expense22,287.501505Accumulated Depreciation22,287.5022,287.5022,287.507,105To record annual Depreciation Expense per Fixed Asset SubledgerGJ312315400Bank Fees - Jan-Nov330.005600Depreciation Expense - Correct Bank Fees Entry330.00To correct entry that placed Bank fees in the incorrect account12315400Bank Fees - December30.001100Cash - Bank Fees30.00To record Bank Fees for December12315300Bad Debt Expense660.001205Allowance for Doubtful Accounts660.00To update Allowance for Doubtful Accounts Balance to 2% of A/R12311240Notes Receivable375.009100Interest Revenue375.00To adjust balance on Note Receivable and account for interest income12314700Shrinkage and Waste3,000.001300Inventory3,000.00To account for shrinkage and waste in inventory12319200Insurance Expense1,500.001410Prepaid Insurance1,500.00To record Insurance Expense for December Prepaid Insurance used up12315200Advertising Expense2,000.002100Accounts Payable2,000.00To correct Advertising bill amount on books which was entered short by $2,00012318200FICA Expense - December1,066.408100FUTA Expense - Reverse Incorrect Entry1,066.40To Reverse Incorrect Entry and place December FICA Expense in correct account12316500Salaries and Wages Expense17,200.005600Depreciation Expense17,200.00To correct error of entry which placed Salaries & Wages Expense in Depreciation Expense account12319000Interest Expense - Line of Credit7,800.002190Interest Payable - Line of Credit7,800.00To record liability of Interest for Line of Credit outstanding balance

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Payroll JournalPayroll JournalDEBITCREDITDateEmployeeNamePostedRefGross PayFederal WithholdingFICA(6.2%)Medicare Withheld(1.45%)Medical Insurance$80 Single$140 MarriedFirm pays 25%Net PayCheck No.Acct #650021502160216521001110EMPLOYEE:1230Employee 103,200.00236.00198.4046.40105.002,614.2010451230Employee 203,500.00217.00217.0050.75105.002,910.2510461230Employee 305,000.00851.00310.0072.5060.003,706.5010471230Employee 405,500.00426.00341.0079.75105.004,548.251048Total17,200.001,730.001,066.40249.40375.0013,779.20Zero Balance Check:Posted to Subledger V100=17,200-1,730-1,066.40-249.4-375-13,779.20

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Cash Receipts JournalCash Receipts JournalDEBITCREDITDateDescriptionCashSales DiscountAccounts Receivable 1200Other Account11004180A/R Subsidiary AcctAmountPostedRefGL Acct #AmountPostedRef123Customer 3060,000.00C3060,000.00125Customer 4035,280.00720.00C4036,000.001210Customer 1020,000.00C1020,000.001215Customer 2025,000.00C2025,000.001231Note Payment2,281.6512402,281.65Total142,561.65720.00141,000.002,281.65Zero Balance Check:0 = 142,561.65+720-141,000-2281.65

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Sales JournalSales JournalDEBITCREDITDateDescriptionInvoice/ Credit Memo #A/R Subsidiary AcctPostedRefAccounts ReceivableSales ReturnCOGSInventory Subsidiary AcctPostedRefInventorySales12004190450013004100122Customer 401201C4024,000.0012,000.00I3012,000.0024,000.00125Customer 301202C3048,000.0032,000.00I4032,000.0048,000.001210Customer 401203C4036,000.0018,000.00I2018,000.0036,000.001220Customer 101204C108,000.004,000.00I104,000.008,000.001228Customer 201205C2024,000.0012,000.00I3012,000.0024,000.001230Customer 20CM01C20(3,000.00)3,000.00Total137,000.003,000.0078,000.0078,000.00140,000.00Zero Balance Check:137,000+3,000-140,000 = 078,000-78,000 = 0

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Purchases JournalPurchases JournalDEBITCREDITOther AcctACCOUNTS PAYABLE - 2100DateVendorVendor Invoice #Inventory1300GL Acct #AmountPosted RefA/P Subs. Acct #AmountPosted Ref122Vendor 20 - Fixed AssetV12315008,000.00V208,000.00123Vendor 30V45675,000.00V3075,000.0010 Units - Item 10, 10 Units - Item 20, 5 Units-Item 30, 10 Units item 40126Vendor 30V45760,000.00V3060,000.0015 Units - Item 401215Repair BillV81064001,545.00V401,545.001215DuesV9075700500.00V40500.001215Phone BillV6546700355.00V70355.001230Accounting BillV222510017,000.00V5017,000.001230Advertising BillVA0152002,500.00V402,500.001230Legal BillV72360009,000.00V609,000.00Total135,000.0038,900.00173,900.00Zero Balance Check:0=135,000+38,900-173,900

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Cash Disbursement JournalCash Disbursement JournalCREDITDEBITACCOUNTS PAYABLE - 2100Other AccountsOther AccountsDateCheck #DescriptionCash1100A/P Subs. Acct #AmountPosted RefGL Acct #AmountPosted RefGL Acct #AmountPosted Ref1212010Vendor 30110,000.00V30110,000.001212011Loan (Promissory Note)75,000.00124075,000.001252012Insurance (Life, General)18,000.00141018,000.0012152013Vendor 30135,000.00V30135,000.0012302014Freight Bill5,000.0048005,000.0012302015Rent2,250.0063002,250.001230n/aTransfer to Payroll13,779.20111013,779.2012302016Federal Withholding1,730.0021501,730.0012302017FICA2,132.8021601,066.4082001,066.4012302018Medicare498.802165249.408250249.4012302019Medical Insurance500.00V10375.005800125.0012302020First Bank (Note Payable)3,638.3527003,238.259000400.10367,529.15245,375.00120,438.251,715.90Zero Balance Check:0=367,529.15-245,375-120,438.25-1715.90

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Dec. Operating Acct. Rec.Student CompanyBank Reconciliation - Cash AccountDecember 2013First Bank: Cash Operating A/C #5551234Bank StatementGeneral LedgerUnadjusted Bank Balance, 12/31/13156,939.78147,139.83Add:Deposits in Transit2,281.65Deduct:Oustanding Checks:Check #Amount2014$5,000.002015$2,250.002016$1,730.002017$2,132.802018$498.802019$500.00$(12,111.60)Adjustments:Bank Service Fee$(30.00)Adjusted Balance, 12/31/13$147,109.83$147,109.83

Dec. Payroll Acct. Rec.Student CompanyBank Reconciliation - Payroll AccountDecember 2013First Bank: Payroll A/C #5551235Bank StatementGeneral LedgerUnadjusted Bank Balance, 12/31/13$2,624.2010.00Add:Deposits in transit0.0Deduct:Outstanding ChecksCheck #Amount1045$2,614.20$(2,614.20)$10.0010.00

Accounts Rec. Aging ReportStudent CompanyAccounts Receivable Aging ReportDecember 2013CustomerTotal Due0-30 Days31-60 Days61-90 Days>90 DaysCustomer 10$8,000.00$8,000.00Customer 20$41,000.00$41,000.00Customer 30$48,000.00$48,000.00Customer 40$36,000.00$36,000.00Total$133,000.00$133,000.00

Inventory Rec. ReportStudent CompanyInventory Reconciliation ReportDecember 2013ItemQuantityCostTotalItem 10111,000.0011,000.00Item 2001,500.000.0Item 3002,000.000.0Item 40204,000.0080,000.00Total3191,000.00

Fixed Asset ReportStudent CompanyFixed Asset ReportDecember 2013ItemCostAccumulated DepreciationNet Book ValueItem 10200,000.0033,000.00167,000.00Item 2015,500.003,500.0012,000.00Item 3050,000.001,125.0048,875.00Item 408,000.00162.507,837.50Total273,500.0037,787.50235,712.50General Ledger Balance A/C 1500 Fixed Assets:273,500.00General Ledger Balance A/C 1505 Accumulated Depreciation:37,787.50Conclusion: Subsidiary Ledger Agrees w/ General LedgerAccumulated Depreciation - Year to Date37,787.50Accumulated Depreciation - Beginning of Year15,500.00Difference = Depreciation Expense for Year22,287.50

Accounts Payable Aging ReportStudent CompanyAccounts Payable Aging ReportDecember 2013AccountTotal Due0-30 Days31-60 Days61-90 Days>90 DaysVendor 100Vendor 208,000.008,000.00Vendor 300Vendor 406,545.006,545.00Vendor 5017,000.0017,000.00Vendor 609,000.009,000.00Vendor 70355.00355.00Total40,900.0040,900.00